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Japan falls into recession
Published in Saudi Press Agency on 18 - 11 - 2014

The Japanese economy has entered recession, official
figures for the July-to-September period showed Monday, according to dpa.
The world's third-largest economy contracted at an annualized rate of
1.6 per cent in the quarter, following a contraction of 7.3 per cent
in the previous three-month period, the Cabinet Office said.
The reading was far worse than the 2.0-per-cent growth predicted in a
poll of economists by the Nikkei business daily, as the country faced
sluggish consumer demand after a controversial sales tax hike in
April.
Economic Revitalization Minister Akira Amari conceded the downturn of
the economy was bigger than the government had expected.
Amari said the prime minister would decide soon whether to go ahead
with another sales tax hike to 10 per cent in October 2015 after
raising it to 8 per cent in April, the first increase in 17 years.
The minister sounded a cautious note in regard to the second hike,
saying the economy "must not slow down and fall back into deflation."


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